Mexico
Warren Buffett-Backed Nubank Crosses 70 Million Users
Nubank has reached 70 million customers in Latin America, with 66.4 million users in Brazil, 3.2 million in Mexico, and more than 400,000 in Colombia — making it the fifth largest financial institution in Brazil in terms of number of
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Stori Becomes Mexico’s Newest Unicorn
Stori, a rapidly growing fintech company offering credit card products to Mexico’s underserved population, today announced its latest round of financing of $150 million, which values the company at $1.2 billion. As a result of this latest round of financing,
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Mexican Fintech Clara Clinches Unicorn Status With US$70 Million Series B
Mexico City-based end-to-end corporate spend management solution Clara has secured US$70 million in a Series B equity financing round. The round was led by Coatue, and takes Clara’s valuation to US$1 billion. With the Series B, Clara has become the
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Visa Invests in LATAM Open Finance Platform Belvo’s US$43 Million Series A
Visa has invested in Mexico City-headquartered open finance API platform Belvo through its US$43 million Series A. The two companies have also signed a strategic partnership to jointly develop open finance solutions in Latin America, a statement from Belvo said.
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Mastercard to Extend Real-Time Payments to Latin America With Arcus Acquisition
Mastercard has acquired Mexico-based Arcus Financial Intelligence to support bill pay solutions and other real-time payment applications across Latin America. Arcus provides bill pay and cash-in, cash-out services for billers, retailers, fintechs and traditional financial institutions in the US and
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Mexican Credit Card Issuer Stori Closes US$200 Million in Oversubscribed Series C
Mexican credit card issuer Stori announced that it has closed US$125 million during an over-subscribed Series C funding round co-led by global venture capital firm GGV Capital and growth-stage investor GIC. Other investors include General Catalyst, Goodwater Capital, and Mexico-based
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Mexican Startup Reworth Raises US$2.8 Million in Seed Funding
Reworth, a Mexico-based startup that offers API solutions so financial institutions can offer cash back to their clients, announced the closing of a US$2.8 million seed funding round. This round was led by ALLVP, with participation from New York-based FJ
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BBVA Mexico Joins Ant Group’s Blockchain-Based Trading Platform Trusple
BBVA has signed an agreement to integrate its cross-border payment and financing services on Trusple, a blockchain-based trading platform powered by Alibaba’s affiliate Ant Group, for greater transparency and security. Trusple aims to accelerate the digital transformation and facilitate the
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Latin America Sees Booming Digital Banking Sector with Brazil at the Lead
Over the last few years, digital banking in Latin America (Latam) has experienced extraordinary growth on the back of changing customer needs, expanding technological penetration and rapidly evolving regulatory standards. Since 2017, the number of digital banks has more than
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Brazil and Mexico Emerge as Top Fintech Countries in Latin America
Though the growth of fintech in Latin America (Latam) started later than in other region, it quickly picked up stream. Today, Latam is experiencing an explosion of fintech activity that’s being fueled by rising demand for online banking tools, encouraging
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